Posted by Bill Nicastro on March 10, 2001 at 14:11:39:
So this can be done with no cash out.I am always told
that the bank wants to see your own money invested regardless of there LTV. Is there a solution.thanks
No Doc Loans True or False - Posted by Bill Nicastro
Posted by Bill Nicastro on March 09, 2001 at 16:08:54:
I recently attended a seminar and the man said he purchased
a property by getting a no doc loan.He said the loan was 50%
of the appraised value so the bank lent it to him with no
money down.He later set up a second with the seller for the
balance of the sale price which was less the value.So he got
cash at closing,is this for real and if so how?
Re: No Doc Loans True or False - Posted by Ed Garcia
Posted by Ed Garcia on March 10, 2001 at 11:14:42:
Bill,
It could be, but the man defrauded the lender when he pulled cash out with out the lenders knowledge.
Ed Garcia